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QIA bolsters US presence with investment in Brookfield real-estate project

Qatar Investment Authority has agreed to buy a 44% stake in an $8bn US real-estate project backed by Brookfield Asset Management, with a view to bolstering the sovereign wealth fund’s footprint in the country.

QIA is investing in Manhattan West, a seven-million square feet, mixed-use development project in the centre of New York City, alongside Brookfield Property Partners, a listed subsidiary of the giant Canadian asset manager.